Sentences with phrase «crude oil demand»

Crude oil demand is steady, if tepid.

Not exact matches

Andurand, who runs oil hedge fund Andurand Capital Management LLP, wrote in a string of tweets on Sunday that companies may be less willing to risk investment in long term oil projects because of low crude barrel prices and a predicted peak in electric vehicle demand.

In supporting analysis for the Keystone application in 2006, Purvin and Gertz forecast that, demand in the midwest oil administrative district «would grow and that increasing supplies of Canadian crude oil could handle this growth in addition to offsetting declining U.S. domestic production.»

«The idea that gasoline demand is actually rising suggests that perhaps the lower prices of crude are actually prompting a greater usage of this product (gasoline),» said Vyanne Lai, oil analyst at National Australia Bank.

For one thing, the concerns over the decline in crude oil prices may be overdone, it said, adding that the economy is still resilient and Malaysia is likely to maintain a trade surplus as demand for imports is also softening along with exports.

LAUNCESTON, Australia, April 30 (Reuters)- The term «demand destruction» is again entering the lexicon of the current crude oil market as the sharp rise in prices raises concerns about when do consumers start cutting back on their fuel consumption.

The Saudis have a legitimate reason to want nuclear power: Their domestic energy demand is growing rapidly, and burning crude oil is an expensive and inefficient way to generate electricity.

High demand for diesel and home heating fuel in particular means refineries are willing to pay more for crude oil, said Tom Kloza, global head of energy analysis at Oil Price Information Servioil, said Tom Kloza, global head of energy analysis at Oil Price Information ServiOil Price Information Service.

The banks says the long - oversupplied oil market is tightening up more quickly than expected as global economic growth fuels demand and output cuts by OPEC, Russia and several other producers eat into the world's crude stockpiles.

But after the bust comes the boom: Expect soaring crude prices later this decade as demand from fast - growing Asia collides with greatly diminished supply — a classic bust - boom cycle with which the oil industry was all too familiar 100 years ago but may have forgotten since.

Even a 5 percent drop in demand for fuel in those countries would knock about 325,000 bpd from global crude oil consumption.

«While the increase in U.S. production of crude oil and the reduced U.S. demand for transportation fuels will likely reduce the demand for total U.S. crude oil imports, it is unlikely to reduce demand for heavy sour crude at Gulf Coast refineries.»

There are any number of theories explaining the sudden drop in crude oil prices after two years of stability: America's increasing supply, the world's faltering demand, an undeclared price war being waged by Saudi Arabia, the rising U.S. dollar.

CNBC's Jackie DeAngelis reports on the trading action in crude, as oil prices slide on global growth worries over demand.

fell by 75 cents to $ 96.75 a tonne, while Brent crude slipped below $ 111 a barrel on Monday morning on concern that a fragile global economy could curb oil demand.

And in 2007, with crude prices on the rise, voracious demand for new shares of PetroChina on the Shanghai Stock Exchange caused the Chinese oil and gas company's market value to briefly top $ 1 trillion.

Oil prices showed no sign of fading though, having added as much as 3 % on Wednesday after a third surprise weekly drop in U.S. crude stockpiles boosted the demand outlook in the world's largest oil consumOil prices showed no sign of fading though, having added as much as 3 % on Wednesday after a third surprise weekly drop in U.S. crude stockpiles boosted the demand outlook in the world's largest oil consumoil consumer.

The Chinese firm's demand for May - loading crude will be lower than the previous month due to refinery maintenance and as one of China's largest oil ports, Huangdao, could be shut for days from early June to accommodate a government meeting, a second company source said.

The bottlenecks are frustrating for Canadian oil producers because heavy crude is in great demand from U.S. Gulf of Mexico refineries, which are designed to process it, and have faced shortages of Venezuelan and Mexican heavy crude.

Surging U.S. oil output won't crowd out Saudi crude because demand remains strong, Aramco CEO Amin Nasser says.

However, the outlook for increased volumes of Canadian crude oil shipped by rail to the United States is highly uncertain despite significant U.S. demand for Canadian crude oil, specifically on the U.S. Gulf Coast.

Gasoline retailers decided to make some money, spring vacationers drove up demand, crude oil prices went up, and gas refineries continued to undergo seasonal maintenance, resulting in tighter supplies.

Our strategy is even more compelling against the backdrop of global demand growth for light sweet crude oil,» Muncrief added.

Oil - producing countries, meanwhile, are proving «remarkably successful in better aligning supply to demand, draining the crude oil glut and pushing oil prices to their highest levels since 2014,» DeHaan saOil - producing countries, meanwhile, are proving «remarkably successful in better aligning supply to demand, draining the crude oil glut and pushing oil prices to their highest levels since 2014,» DeHaan saoil glut and pushing oil prices to their highest levels since 2014,» DeHaan saoil prices to their highest levels since 2014,» DeHaan said.

Of course, supply and demand will have to balance out over time, and more Iranian crude will force a larger adjustment from U.S. shale, so U.S. oil production could see a deeper contraction.

When things get back to normal, there will be strong demand for both crude oil and refined products.

That lower demand helps explain, in part, why nearly everything from crude oil to cotton has been getting cheaper.

While the trade data had little impact on U.S. financial markets, concerns about weakening global demand pushed Brent crude oil prices to the lowest level in more than four years, dragging down U.S. stocks.

Yesterday's oil initially rallied on a report that Saudi Arabia was raising crude prices for customers showing that they are confident about demand and not worried about losing market share.

Ben Luckock is in fact so bullish that he forecast demand could exceed supply of crude oil by 2 - 4 million bpd by the end of 2019 because of the US$ 1 - trillion in spending plans that never saw the light of day as a result of the 2014 price crash.

Amid restarting refineries along the Gulf Coast and growing optimism about strengthening demand, the EIA dampened spirits somewhat by reporting a substantial increase in crude oil inventories for the week to September 15.

The consumers pay for crude oil in dollars; hence, they always have to keep a steady reserve of dollars, thereby maintaining a high demand for the the currency.

Demand for the U.S. dollar has remained high despite this because of the world's reliance on it to fund crude oil purchases.

Demand for OPEC crude in 2016 is estimated to stand at 31.7 mb / d, some 1.7 million barrels a day over last year, the oil producer group said.

The American Petroleum Institute (API) reported a build of 6.181 million barrels in United States crude oil inventories, compared to analyst expectations that inventories would build by 10.1 million barrels for the week ending September 8 as many refineries in the Gulf Coast remain offline and demand in Florida wanes in the wake of the most recent hurricane.

The conditions precipitating this change — lower volumes and value of crude oil from Mexico, and increasing demand from Mexico for refined products from the U.S. as prices are rising — may not be the new normal.

In China, domestic crude oil output is dropping while demand is continuously growing, and as such, China is raising its imports.

On the demand side, use of crude oil by Midwest refineries has been decreasing since the year 2000, as shown in the figure below:

Last week's report from the EIA showed that demand for crude oil remains robust as gross inputs at U.S. refineries have topped 17 million b / d in each of the past nine weeks.

According to Mike Muller, Vice President of Crude Trading & Supply at Shell Trading, the soaring diesel fuel demand and the buying of crude oil to fill strategic reserves have been the key drivers of this year's higher oil demand grCrude Trading & Supply at Shell Trading, the soaring diesel fuel demand and the buying of crude oil to fill strategic reserves have been the key drivers of this year's higher oil demand grcrude oil to fill strategic reserves have been the key drivers of this year's higher oil demand growth.

This is exactly why I wrote here that the EU is missing a great opportunity to demand emissions certification from all sources of crude oil.

On what the driving force behind the rally in crude oil prices has been recently, Pickens said, «Now you are approaching 2 million barrels a day year - over-year on increase in demand.

Although there has also been a very slight fall in US crude oil production since the start of the year -LRB--1.6 %), with more Iranian and Iraq crude coming online and the demand fundamentals not improving, a significant price rise by the end of the year is unlikely.

A glut of crude oil as demand weakens has ignited a price war among OPEC members, bringing crude prices to four year lows.

The energy minister for the UAE, Suhail Mohammed al Mazrouei, said OPEC produce 30.4 million barrels of crude oil a day which is a «little above the organization's target, and this reflects the demand on its crude».

China is now the biggest crude oil importer in the world, and the pace of its oil demand growth is capable of influencing the oil market and the trade in the two most traded crude futures in the world, Brent and WTI.

Oil prices are poised to shoot through the top of recent ranges amid growing global demand and that could boost U.S. crude by some 36 percent from current levels, one analyst told CNBC.

WTI crude oil prices are gaining on Brent as strong U.S. demand and Canadian pipeline issues tighten U.S. oil supply even further.

The Energy Information Administration's report published every Wednesday containing commentary on oil supply and demand, as well as statistical data on crude oil and other petroleum products.

«Beyond the headlines, gasoline demand was very strong, virtually summer - like, and crude oil exports are climbed back toward 2 million bpd at 1.75 million.»